The Democratic Party is set to return over $1 million of its funding to victims of the now-defunct cryptocurrency exchange FTX, according to a report.
The report, which was first published by The Verge, states that three of the top Democratic campaign organisations will be setting aside funds sent to them in contributions from Sam Bankman-Fried, ex-CEO of the collapsed FTX cryptocurrency exchange.
Given that SBF has now been arrested following the alleged fraudulent activities that led to FTX losing around $8 billion in investor funds, the pressure has been on the Democratic party to give back some of the funds that it received in contributions.
A spokesperson for the Democratic National Committee (DNC) said:
“Given the allegations around potential campaign finance violations by …